Comptroller Judy Baar Topinka had estimated the backlog would be closer to the $9 billion owed at the end of 2012. But an unexpected $1.3 billion infusion of tax receipts last spring helped.
The state’s financial situation is so dire that any recovery plan that’s the least bit realistic will be unpleasant.
The state is late on paying its bills by $4.27 billion, according to the latest quarterly report
As of early last month, the state owed on 166,000 unpaid bills worth a breathtaking $5 billion, with nearly half of that amount more than a month overdue.
State of Illinois owes vendors almost $5 billion in unpaid bills. Many vendors waiting six months or more to get paid…